my mom is aged 76 and receives family pension.her total income including her gross salary and income from other sources is amounting to 3,09,000 in this financial year (ay 2021-2022).to be specific her income from salary is accounting for about two lakhs forty thousand and the rest comes from interests from savings and deposits..can she submit form 15 h at this scenario for non deduction of TDS for deposits.i am a bit confused because i have been getting contradicting infos from ppl that say its ok for her to submit the form and from some online resources that say 15h is only for senior citizens whose taxable income is less than 3,00000.so pls explain me.also pls let me know whether in case she has cannot submit 15 h will the TDS amount be returned back to her after filing ITR in the ay2021-2022 if her net income doesnt exceed 5,00,000
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Form 15h submission
Replies (1)
1. Should not submit 15H as income exceeds 3 Lakhs. Penalty can be levied for such misdeclaration
Many senior citizens furnish because they are used to doing that thinking there is no tax liability but in fact that is not the criteria.
2. TDS deducted shall be claimed in ITR and refund will be processed on filing of ITR.
Many senior citizens furnish because they are used to doing that thinking there is no tax liability but in fact that is not the criteria.
2. TDS deducted shall be claimed in ITR and refund will be processed on filing of ITR.
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